Paypal fees

Hi guys today i transferred money from my paypal account to my bank account and i was surprised that they are not charging any fees, earlier they used to charge Rs50 per transaction below rs7000. When i clicked on the link fees there it was stated that no fees(free) for Indian bank accounts. So any of you mylotters have any news regarding this and have they implemented the rule of transferring money in 7 days of receiveing it from paypal to your bank account.

maybe it is a free transfer period. they had done something similar earlier or maybe it was just a glitch. either way good for you. i am only receiving notifications of new rules imposed by paypal now and then. have not heard anything regarding free transfer of funds to bank. how much did you transfer by the way?

I don't think its a free transfer period because in their fees page its showing free for Indian accounts. I didn't transferred much only Rs1500, last month i transferred about Rs4500 but then the exchange rate was also low and also i have to bear rs50 fees.

Yes you will be able to transfer money from your paypal account to your bank account without credit or debit card verification, but you will have to send them an email regarding you don't have a credit card.

@oindy54
My account was limited due to not verifying credit card when I tried to withdraw money to my bank, so I sent them an email stating that I don't have a credit card, so they lifted my limitation.

Hi,
I am really excited to hear this.I hope it is a permanent policy as their fees are too high and conversion rate low compared to the market rate for dollars.I requested a bank transfer last month and had to pay a Rs.50 fee.But I just read your post now and am feeling extremely happy.I hope I will have enough in my account this month to withdraw and take advantage of this scheme.Thanks for sharing this with us.

I think its a permanent policy as they have also updated that on their fees page. Yes their conversion rate is about Re 1 lower than the exact exchange rate. And am too very happy for this news and i hope you reach your goal soon.

Thanks a lot for your good wishes.I will be extremely happy if this is a permanent policy.We have got a lot of fees deducted by them so far and all of us know how hard it is to earn Rs.50.I am really excited now and wish to reach at least $10 to withdraw and enjoy the free bank transfer!

Wow, that's great to hear.
I was checking through the Paypal policies and found that now it is free to withdraw money to bank accounts in India.
More detail:
https://www.paypal.com/in/cgi-bin/webscr?cmd=_display-fees-outside
I hope it would be a permanent policy, and I hope they would give no-fees for withdrawing to Indonesian Bank too

I don't think its a gift or anything for Indian customers as they have changed and updated their fees policy, so it may be a permanent policy. You will now also have to pay exchange fees but only the rs 50 fees is lifted.

Congradulations, that's great. I live in Canada and I have to pay 50 cents for a withdrawl to my bank unless I have more than $150 to draw out and that is a lot of money for earnings online so it would take me about 4 months to have that much in there and I wouldn't want to wait 4 months to withdraw my money so I just pay the fee. It's not very much but if in comparrison to what I earn in mylot it would be about 20 responses, which for me is about 2 hours work as I take a long time to post a response.
Not that I am a slow typer, quite the opposite, but because I read the discussion about 3 times while I am posting a response and then I also read what I typed before I send it to post, so it just takes me a longer time than I have read most people take to post here.
Back to the subject of your paypal payment, good for you and here's hoping you continue to earn online and make lots of money in your paypal account.
Cheers my friend,
Chris

I entered my bank detail into Paypal account today. And there it was said that transfer of fund to bank account from Paypal is free. I think it is the policy now. May be the bank and Paypal have a tie up now.

Good news about paypal that they do not charge any fee for transactions. I hope paypal keeps its good reputation worldwide. The time of days for money transfering is acceptable as long as you know you'll receive your money. Happy mylotting!